introduction to branding 2014 pdf

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    A/P Sharon Ng

    (Office: S3-B2C-88

    Phone: 6790 4898)

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    Evolution status and physical attractivenessenables greater access to resources. The besthunters get most meat and more wives

    Animal kingdom - alpha male gets more wivesand food

    In modern world, status and attractivenessprovides. Emotional payoff (feels good) and social currency

    Financial reward

    4

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    Deep down, everyone wants a little morestatus, nice image

    Need for recognition, need for acceptance

    Brands are the means to gain acceptance insocial groups

    5

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    I am rich and successful ! I have good taste!

    I am unique and rebellious !

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    The art of marketing is the art of brandbuilding. If you are not a brand, you are acommodity. Then price is everything and thelow-cost producer is the only winner

    PhilipKotler

    7

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    Brand act as a prism to affect how you perceiveproducts and services !

    Product/Service Brand Perception

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    A cognitive bias Tendency to generalize global affective

    feelings or trait to other objects or attributes

    Humans are cognitive misers

    Observed in all aspects of business Performance evaluation

    Job interview

    Celebrity endorsement

    Students grading Product evaluation

    E.g., organic food

    9

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    In brand, halo effect refers to the positive biasconsumers exhibit towards a brand because ofprior favorable experience with the brand or

    overall impression of the brand Driven by brand equity!

    10

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    E.g., name, logo, trademarks, packaging, taglines These enable the customers to identify the brand

    But these are just the visual elements of the brand

    Having these does not = branding

    Common misperception

    It is the totality of customer experiences

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    Product Brand

    A physical thingmade in factory

    An object

    Sold by the company

    Can be easily copied

    Can be quicklyoutdated

    Made up of trust andrelationship

    A personality Bought by a

    customer Unique, not easily

    copied Timeless

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    Emotional connection between the companyand the consumers

    Success in getting consumers attention,imagination and emotion

    Shows the one is different and better than therest

    The price differential one is willing to pay

    It is something that resides in the minds ofconsumer

    A perceptual reality

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    Give consumers a labelfor the product (howto identify the product)

    Provide meaningfor consumers (why it isspecial and what it can do for them)

    Help create mental structures for consumers

    to organize their knowledge

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    Ultimately a brand is something that resides in theminds of consumers.

    The key to branding is that consumers perceive

    differences among brands in a product category.

    Even commodities can be branded:

    Bananas

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    Branding in Asia

    YOU !!!

    16

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    What are the common elements across all these brands?Which is the most improved brand?Which brand is losing traction?

    Asian brands?

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    Why is branding important?

    Value to

    consumers

    Value to

    firms

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    Identification of source of product

    Assignment of responsibility to firm

    Risk reducer

    Search cost reducer

    Symbolic device

    Signal of quality

    http://images.google.com.sg/imgres?imgurl=http://www.purseblog.com/images/louis-vuitton-neverfull.jpg&imgrefurl=http://www.purseblog.com/louis-vuitton/louis-vuitton-neverfull-gm-mm-pm.html&usg=__UKRn78sWwv5fWkml3LZGtflkBXY=&h=335&w=349&sz=32&hl=en&start=1&um=1&itbs=1&tbnid=L008giaziIW8-M:&tbnh=115&tbnw=120&prev=/images?q=louis+vuitton&um=1&hl=en&sa=N&tbs=isch:1
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    Means of identification to simplify handling or

    tracing

    Means of legally protecting unique features

    Signal of quality to customers

    Means of endowing products with unique

    associations

    Source of competitive advantage / means of

    differentiating products

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    Ability to charge a premium for products

    Form of intangible assets / economic returns

    Ability to command loyalty from customers

    http://images.google.com.sg/imgres?imgurl=http://ceoworld.biz/ceo/wp-content/uploads/2009/07/harley-davidson.jpeg&imgrefurl=http://ceoworld.biz/ceo/tag/financial-services&usg=__uDATjj9m7tqAwBMSod57mmJGxb4=&h=830&w=939&sz=119&hl=en&start=5&um=1&itbs=1&tbnid=D_bxWTizBaDCvM:&tbnh=131&tbnw=148&prev=/images?q=harley+davidson&um=1&hl=en&tbs=isch:1http://images.google.com.sg/imgres?imgurl=http://weblogs.baltimoresun.com/business/consuminginterests/blog/apple-logo1.jpg&imgrefurl=http://weblogs.baltimoresun.com/business/consuminginterests/blog/technology/&usg=__ZRYiHpjAeWfxq74V5CGJfAEt_Dk=&h=480&w=397&sz=22&hl=en&start=1&um=1&itbs=1&tbnid=HhYIr-Oz_5sLkM:&tbnh=129&tbnw=107&prev=/images?q=apple&um=1&hl=en&tbs=isch:1http://images.google.com.sg/imgres?imgurl=http://www.generalmills.com/corporate/company/international/images/med_res_packaging/TAI_HD.gif&imgrefurl=http://www.generalmills.com/corporate/company/international/taiwan.aspx&usg=__cZ2p2GiAzooIZe0NE9RIfNR2nO8=&h=489&w=500&sz=102&hl=en&start=1&um=1&itbs=1&tbnid=YEhCMhjz56zcJM:&tbnh=127&tbnw=130&prev=/images?q=haagen+dazs+ice+cream&um=1&hl=en&tbs=isch:1http://images.google.com.sg/imgres?imgurl=http://www.globalgiants.com/archives/media/MontBlanc.jpg&imgrefurl=http://www.globalgiants.com/archives/2006/01/&usg=__OkLc5MOgEcAPmwiR3PmzadxEi4U=&h=315&w=321&sz=13&hl=en&start=1&um=1&itbs=1&tbnid=qCXRkspXmX4rnM:&tbnh=116&tbnw=118&prev=/images?q=mont+blanc+pen&um=1&hl=en&tbs=isch:1http://images.google.com.sg/imgres?imgurl=http://www.pursepage.com/wp-content/uploads/2006/10/gucci_scarf_tote_bag.jpg&imgrefurl=http://www.pursepage.com/gucci-handbags/gucci-scarf-tote-bag.html&usg=__VnybQpXzf2uBb8YwpFtzAVTaV7U=&h=300&w=300&sz=19&hl=en&start=10&um=1&itbs=1&tbnid=q-i51vHDEzXxyM:&tbnh=116&tbnw=116&prev=/images?q=gucci&um=1&hl=en&tbs=isch:1
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    A brand can serve many purposes and

    every company uses it differently.

    Coke does not really command a

    Premium but it commands loyalty.

    Apple has a cult following.

    Some cheaper brands just use brands to make iteasier for companies to identify with them.

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    Especially Asian companies (though this ischanging)

    Branding takes time and money May take a long time before effect is obvious

    Need to be willing to invest resources to brand buildingactivities

    Does not mean only rich and big companies can and shoulddo branding

    Even small companies can do it (e.g., SMEs)

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    Sounds easy

    enough.

    Everyone shouldbe able to do it !

    BUT out of every brand that succeeds,

    there are 10 others that fail !

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    CommonProblems

    Focus oncost

    Branding

    philosophynot

    internalized

    Mismatchbetween

    brand vision& co reality

    Brandelements =Branding

    Consistency

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    Corporate

    Strategy

    Internal

    Branding

    Product

    and

    Service

    Design

    Brand

    Identity

    r

    a

    n

    d

    S

    t

    r

    a

    t

    e

    g

    y

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    Savvy customers

    Brand Proliferation / Clutter

    Piracy

    Rapid environmental changes

    Internet/technology

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    Greater attention and focus on branding Especially in Asia

    Awareness that simply selling is not enough

    Firms looking for branding experts Increasing number of brand consultancy firms

    Govt push for greater branding knowledge in SME

    Boom in online and mobile purchase

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    Introduce the different aspects of branding

    Insights into how brand equity may be managedand leveraged

    Enhance your understanding of brand managementand related branding strategies and the interactionwith the whole organization

    Analysis of actual problems companies face

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    Brand equity

    What is it

    How do you build positive equity

    How do you measure it

    Brand Leverage

    Brand Extensions

    Brand feedback effect

    Managing brand over time and cultures

    Brand revitalization

    Branding across cultures

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    Who are you?

    What people need toknow about you?

    Who needs to know?

    How will they know?

    Why should they care?

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    So it is not whether branding is

    important, it is HOW you should do it.

    This course will cover the theories andfindings on branding.

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    Strategic Brand Management

    Process

    Mental maps

    Competitive frame of reference

    Points-of-parity and points-of-difference

    Core brand values

    Brand mantra

    Mixing and matching of brand elements

    Integrating brand marketing activities

    Leveraging of secondary associations

    Brand value chain

    Brand auditsBrand tracking

    Brand equity management system

    Brand-product matrix

    Brand portfolios and hierarchies

    Brand expansion strategies

    Brand reinforcement and revitalization

    Key ConceptsSteps

    Grow and sustain

    brand equity

    Identify and establish

    brand positioning and values

    Plan and implement

    brand marketing programs

    Measure and interpretbrand performance

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    1. A companys management of a brand is typicallythe determining factor in the ultimate success orfailure of the brand.

    2. Brands have differentiating features thatdistinguish them from competitors and add valuefor consumers.

    3. Consumers often dont buy products, they buythe images associated with products

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    First half Lecture (about 1 hour) Group discussion + Break (40 min)

    In class discussion/presentation (1 hour)

    Textbook: Keller, Kevin Lane (2007) Strategic BrandManagement: Building. Measuring, and ManagingBrand Equity, 3rdedition, New Jersey, U.S.A.:Prentice Hall

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    Component % Format

    Brand Audit 25% Group

    Brand Promotion Assignment 20% Group

    Class participation 15% Individual

    Exam 40% Individual

    Total 100%

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    Brand audit (25%)

    A major component of this course

    Objective - to get you to understand how to assessa brands source of equity and suggest ways toimprove and leverage on that equity

    Choose a brand

    Each team a different brand (First come first serve)

    Do your own research about the brand

    Primary and Secondary Data

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    Part I Brand Analysis Firms current branding strategies

    Competitors

    Customers

    Brand awareness level, associations, extensionsetc

    Part II Recommendations

    E.g., what should the brand do to grow orrevitalize itself

    Markets to enter? Exit? Change in positioning? etc

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    Let me know brand chosen by the end of thissession.

    No written report needed

    Presentation during the last 3 weeks of the term

    45 min for presentation and 15 min for Q&A

    Assess both style and content

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    Assume role of brand consultant Assess market for a new product

    Recommend branding strategy

    Due 26 Sept 2014

    Only report to be submitted. No presentationsrequired.

    15 A-4 pages, 1.5 spaced, 12 pt Times New Roman(excluding any appendices)

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    Every week, you learn a small part of branding At the end of the term, hopefully you will be able to

    put all these knowledge together and have a goodunderstanding of branding issues

    Demonstrate you see the big picture. Imagine you arethe companys consultant. What would you do?

    Show independent thoughts.

    Put forth your argument.

    Substantiateit. Dont just say e.g., theatreadvertising is good. Say why it is good. Givereasons, give rationale, provide a well thought outanswer.

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    Provide a balanceviewpoint. Logical flow in yourthought process.

    Look at both the strategic and operational issues

    E.g., how will the strategy affect companys

    growth and expansion in the long term ? Impacton customers relationship? How will it affectbrand equity?

    Operationally, what other considerations need tobe taken into account?

    Cost? Companies commitment?

    Sufficient resources e.g., manpower to implementstrategies?

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    For the assignments: Research secondary information

    Primary data (optional)

    Key is to be able to convince me you have thoughtthis through and your position is backed by goodlogic and explanation

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    Silence handphone in class

    Punctuality

    Uploading of lecture notes, course outline, etc.

    Announcements: please check every week

    Peer Review

    Reference materials. Purchase cases from UPO counter.

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    Any questions?

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    Take a 15 min break

    Get into your groups. Discuss which brand your groupwould like to do for the brand audit.

    Do some research on the potential brands to know howyou intend to scope the audit.

    Let me know which brand your group has chosen by the

    end of the class. First come first serve.